Saudi, Korean companies ink agreements on hydrogen economy | MENAFN.COM

Thursday, 07 July 2022 01:31 GMT

Saudi, Korean companies ink agreements on hydrogen economy


(MENAFN) According to President Moon Jae-in’s office statement following the Korean leader’s conference with Saudi Crown Prince Mohammed bin Salman, Saudi Arabia and South Korea signed a deal to collaborate with each other in expanding the hydrogen economy.

Based on Moon’s office statement, “after holding the talks at Al-Yamamah palace in Riyadh, the two nations signed preliminary deals to jointly develop green hydrogen, which is produced from renewable energy sources, especially solar and wind, and jointly build a hydrogen ecosystem.”

Under the agreements, Seoul is going to be able to capture carbon-neutral hydrogen as well as ammonia materials from the country. It is also going to aid the Saudi capital run hydrogen-powered vehicles and hydrogen powering stations.

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